IMF Bank-Restructuring Efficiency Outcomes: Evidence from East Asia |
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| Authors: | Mohamed Ariff Luc Can |
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| Institution: | (1) Harvard Kennedy School, 79 JFK Street, Cambridge, MA 02138, USA;(2) University of Tokyo/Bond University, University Drive, Qld, 4229, Australia |
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| Abstract: | We report new findings on bank efficiency in East Asian countries for the pre- and post-IMF restructuring periods. We find
that bank efficiency has improved, but only to the pre-IMF intervention level, and that restructured banks are not more efficient
than their unrestructured counterparts. Different restructuring measures have different effects. Bank closures are economically
justified, but mergers show short-term efficiency losses. Recapitalization and reprivatization of badly performing banks lead
to efficiency improvement, but also increase government ownership. Ease of entry that has allowed for more foreign bank participation
results in slightly improved performance of badly performing banks.
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| Keywords: | East Asian banking efficiency IMF-supported programs Bank restructuring Bank re-privatization Foreign participation |
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